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Market Research Analysis Using ChatGPT

Market Research Analysis Using ChatGPT

Learn how to use ChatGPT to perform analysis on market research results effectively.

In this lesson, we'll focus on transforming information into actionable insights. For this purpose, we created a survey questionnaire using ChatGPT regarding shopping habits and preferences, as shown below:

We'll analyze the data obtained from surveying some individuals using the aforementioned survey. A sample is shown in the following table.

Sample Responses of the Survey

Age Range

18-24

25-34

35-44

25-34

35-44

Gender

Female

Female

Male

Female

Male

Grocery Shopping Frequency

3-4 times a week

1-2 times a week

Less than once a week

1-2 times a week

Less than once a week

Preferred Shopping Location

Supermarkets

Specialty stores (e.g. organic food stores)

Online grocery delivery

Supermarkets

Supermarkets

Factors Influencing Purchase Decisions

Price

Quality

Brand reputation

Price

Convenience


Likes and Dislikes

In-store is faster for me to shop and decide about a product.

In stores we can check the quality in-person


Shopping from store is convenient


Enjoy Browsing

Agree

Strongly Agree

Agree

Strongly Agree

Agree

Recommend to Others

Unlikely

Very Likely

Likely

Neutral

Likely

Familiar Brands Preference

I sometimes try new brands

I often try new brands

I sometimes try new brands

I sometimes try new brands

I often try new brands

We are now ready to perform statistical analysis on our data. However, before performing statistical analysis, we need to develop our understanding of it. Let’s explain it in the following section.

Statistical analysis

Statistical analysis involves collecting, organizing, interpreting, and drawing conclusions from data. In statistical analysis, we have two methods to analyze the data—descriptive and inferential statistics—described below:

Descriptive statistics

Descriptive statistics provide a concise summary of the survey. This ...

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